What is the value of marginal product of labour

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Reference no: EM13815046

Suppose the employees of Starbucks in China are paid 8 yuan per hour and a cup of coffee is priced at 8 Yuan. If Starbucks is maximising its profit,

a) What is the value of marginal product of labour (VMPL) per hour of the last worker employed by Starbucks? Briefly explain your answer.

b) What is the employee’s marginal product per hour of the last worker employed? Briefly explain your answer

c) Substantial foreign capital has been flowing into mainland China since the early 1980s. How has this affected the wages and workers employed in China? Explain with a diagram.(refer to labour)

Reference no: EM13815046

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